Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Jan. 01, 2022
OPERATING ACTIVITIES      
Net income $ 230,994 $ 245,493 $ 195,423
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 38,046 37,126 36,599
Stock-based compensation 16,725 21,891 38,516
Provision for doubtful accounts (807) (44) 330
Deferred income taxes (3,750) 127 3,637
Other 5,359 (592) 9,087
Changes in operating assets and liabilities:      
Accounts receivable 14,905 56,696 (60,957)
Inventories 101,284 (236,166) (24,928)
Accounts payable (19,916) (4,117) 47,662
Income taxes (29,335) 6,916 15,987
Accrued liabilities (1,858) (31,108) 18,859
Other assets and liabilities 4,902 (12,637) 3,647
Cash provided by operating activities 356,549 83,585 283,862
INVESTING ACTIVITIES      
Property, plant and equipment expenditures (27,366) (18,375) (10,551)
Capitalized computer software (10,018) (10,022) (26,322)
Proceeds from sales of assets 510 64 669
Other (2,264) (1,785) (3,167)
Cash used by investing activities (39,138) (30,118) (39,371)
FINANCING ACTIVITIES      
Borrowings under revolving credit facility 288,000 163,000 0
Repayments under revolving credit facility (288,000) (163,000) 0
Proceeds from issuance of senior notes 0 0 400,000
Payment of deferred financing costs 0 (298) (8,010)
Repayments of term loans (10,000) 0 (523,000)
Repurchases of Common Stock (30,111) (62,494) (75,462)
Dividends paid (108,574) (103,661) (95,081)
Proceeds from issuance of Common Stock, net of shares withheld for taxes 284 (11,700) (1,951)
Other (7,297) 7,246 (562)
Cash used by financing activities (155,698) (170,907) (304,066)
Effect of foreign currency rate changes on cash and cash equivalents (5,842) (8,703) (3,241)
Net change in cash and cash equivalents 155,871 (126,143) (62,816)
Cash and cash equivalents - beginning of period 59,179 185,322 248,138
Cash and cash equivalents - end of period 215,050 59,179 185,322
Supplemental cash flow information:      
Interest paid, net of amounts capitalized 36,405 31,955 27,074
Income taxes paid 74,184 67,798 32,607
Change in accrual for property, plant and equipment (3,747) 2,522 (336)
Change in accrual for capitalized computer software $ (981) $ 2,958 $ (2,669)